ICICI profit slips as provisions more than double in Q3 2026

The bank had to make a $143m for regulatory compliance related to agri loans.

ICICI Bank’s profit after tax saw a slight decline in the Q3 2026 period as provisions doubled.

Profit after tax was a $1.3b (INR11,318 crore) for the period, or the quarter that ended in December 2025, according to its latest financial results released on 17 January 2026.

This is almost equal to the $1.3b (INR11,792 crore) it earned in Q3 2025.

All incomes and fees increased during the quarter. However, provisions more than doubled to $284m (INR2,556 crore) in Q3 2026 compared to just $137m in Q3 2025.

The Reserve Bank of India (RBI) had directed ICICI Bank to make a $143m (INR1,227 crore) provision during the quarter in respect of a portfolio of agricultural priority sector loans. The terms of these loans were found to not be fully compliant with regulatory requirements for classification as agricultural priority sector lending.

Net interest income (NII) rose by 7.7% year-on-year (YoY) to $2.4b (INR21,932 crore). Net interest margin was 4.3%, higher than the 4.25% in Q3 2025.

Non-interest income (NOII) increased 12.4% YoY to $837m (INR7,525 crore).

Fee income grew by 6.3% YoY to $731m (INR6,572 crore) in the same quarter. ICICI Bank reported a treasury loss of $17m (INR157 crore), attributed to “market movements.”

Operating expenses rose by 13.2% YoY to $1.3b (INR11,944 crore) in Q3 2026. This includes $16m (INR145 crore) of provisions on an estimated basis pursuant of new labour codes, the bank said.

Average deposits grew by 8.7% to $176.5b (INR15,86,088 crore).

ICICI Bank’s retail loan portfolio grew by 7.2% YoY, whilst its business banking portfolio grew by 22.8% YoY, the bank said.